(Read more on the multifamily market.)
ATLANTA-Centennial Holdings, based here, is acquiring asix-property multihousing portfolio for $205 million. The sellerwas a partnership of US Advisors LLC, headquartered in Napa, CA,and Creekstone, based in Houston. The portfolio contained a totalof 1,946 apartment units.
The company has already closed on four properties which arelocated here and the surrounding area. Centennial is expected toclose on a property in Charlotte, NC on Dec. 12 and a property inDurham, NC on Feb. 15. The portfolio had a cap rate of "roughly"5¾%, says Sean Henry, a principal with Atlanta-based ApartmentRealty Advisors, which represented the seller in thetransaction.
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